Shrimp exports in 2022 expected to exceed US$4 billion

It is expected that shrimp export will exceed US$4 billion and have a growth rate of 10 percent to 12 percent in 2022.
Shrimp exports in 2022 expected to exceed US$4 billion ảnh 1 Illustrative photo
On March 11, the Ministry of Agriculture and Rural Development coordinated with the People's Committee of Soc Trang province to hold a conference on developing the shrimp industry in 2022 and signed a regulation on coordination in brackish water shrimp breeding.
According to a report from the Vietnam Association of Seafood Exporters and Producers, the shrimp export value in 2021 reached more than $3.9 billion, up 4 percent over the same period in the previous year. More than 500 shrimp exporters sell the creature to 103 markets with some main markets including the US, the EU, China, UK.
In the first two months of 2022, the country's seafood export value reached more than $1.5 billion, of which shrimp accounted for more than 36.5 percent reaching $550.4 million.
Shrimp exports in 2022 expected to exceed US$4 billion ảnh 2 A high-tech farming in the Mekong Delta Province of Soc Trang (Photo: SGGP)
According to the shrimp production plan in 2022, the shrimp farming area will reach 750,000 hectares, the shrimp output of all kinds will be 980,000 tons. It is forecasted that Vietnam's shrimp export turnover in 2022 will exceed the $4 billion mark with a growth rate from 10 percent to 12 percent.
However, shrimp exports in the year will face some difficulties such as increased raw materials for processed shrimp, the Russian-Ukrainian war. Major markets need more time to recover due to the Covid-19 epidemic; plus, inflation is likely to push up production costs.
In addition to achievements, Deputy Minister of Agriculture and Rural Development Phung Duc Tien said compared with the farming area, the shrimp output is still limited. The rate of high-tech farming is only about 10 percent, the rest is mainly shrimp farming in earthen ponds.

Other news